Modest Growth Ahead For Canada

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    Canada’s top economists, strategists, and portfolio managers predict modest growth for both Canada and the United States, with Canada lagging the U.S. in both economic activity and job creation over the next few years, says the ‘Annual Survey of Economic Expectations’ by Towers Watson. Global growth is expected to improve, but remain relatively subdued, leading to continued low interest rates in most countries for at least another year. In addition, despite rising long-term interest rates, economic activity in Canada remains fragile and reliant on improvement in the United States and Europe and continuing strength in China. In the near term, survey respondents expect Canadian GDP growth to remain around two per cent, rising to 2.4 per cent over the longer term.